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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: jjrocket who wrote (10391)	8/28/1998 1:45:00 PM
From: jjrocket	Read Replies (1) \| Respond to of 42804

Latest from briefing.com MRV COMMUNICATIONS INC. (MRVC) 6 1/4 -8 1/8. The fortunes for this once high-flying stock are not improving. Business condition for this networking equipment and fiber-optic components maker continue to deteriorate as this morning the company warned about its Q3 revenue and earnings results. According to MRVC, due to weaker demand for its high-speed optical networks and delays in introducing the next generation products, it expects revenues for the period to decline sequentially by 10% to 15%. In Q2, the company earned $0.31 a share on revenues of $65.742 million. Hence, MRVC expects revenues to range between $55.88 million and $59.17 mln, much lower than projected by Wall Street as MRVC was projected to earn $0.32 a share. In the year-ago Q3 period, the company earned $0.23 a share on revenues of $41.979 million. Certainly, this is not the first set of bad news that this company has delivered, although in June, it did manage to post better than expected Q2 results which buoyed its stock price. Nonetheless, for the past year, the stock has been trending lower from a high of $39 1/4 last September. With the delays in the introduction of its new products, MRVC has basically erased any positive momentum it had generated from its last earnings report. The stock is now trading at levels not seen since late 1995 and with its lack of sales and earnings visibility, a turnaround is not expected soon.